Commercial Telematics Market Size, Share, Opportunities, And Trends By Solution (Navigation And Location-Based Systems, Telehealth Solutions, Safety And Security, Fleet/Asset Management, Infotainment, Others), By Industry Vertical (Healthcare, Automotive, Government, Media And Entertainment, Others), And By Geography - Forecasts From 2023 To 2028

Global Commercial Telematics Market is expected to grow at a compound annual growth rate of 20.28% over the forecast period to reach US$51.289 billion by 2021, growing from US$20.375 billion in 2016. Telematics are information and telecommunication products which combine telecommunication and computer services in order to transfer a large amount of real-time data in vehicles. Factors such as the high penetration of smartphones, availability of high-speed internet connectivity, and low connectivity cost are driving the demand for commercial Telematics across various end-use industries. Stringent government regulations regarding safety compliance mandates, driver monitoring, and road infrastructure constraints have made the installation of GOS trackers and satellite navigation, thereby bolstering the growth of the global commercial Telematics market. Fleet/Asset management solutions hold the largest share of the global commercial Telematics market owing to the high volatility of fuel prices worldwide. Growing demand for immediate healthcare facilities will provide a great opportunity for the expansion of the global commercial Telematics market by way of the increasing need for connected vehicles.      

Geographically, North America held the largest market size in 2015 and will continue its dominance due to the early adoption of new technology in the transportation and logistics sector along with other industry verticals. APAC region, however, will witness the fastest regional market growth owing to the booming automobile industry coupled with supportive government regulations in the region. Low awareness regarding the solution benefits among commercial fleet owners will restrain the growth of the global commercial Telematics market during the forecast period.                           

Research Methodology

The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used, and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.

Market Dynamics

The next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities that exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations that are determining the market growth, and a brief technological aspect of commercial telematics. Complete industry analysis has also been covered through Porter’s five forces model as a part of this report section.

Market Players

Finally, the competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are AT&T, BMW, Harman, and Trimble Navigation Ltd. among others.

Segmentation

Thirdly, the Commercial Telematics market has been segmented by solution, industry vertical, and geography as below:

• By Solution

• Navigation and Location Based Systems
• Telehealth Solutions
• Safety and Security
• Fleet/Asset Management
• Infotainment
• Others

• By Industry Vertical

• Healthcare
• Automotive
• Manufacturing
• Government
• Media and Entertainment
• Others

• By Geography

• Americas

• North America
• South America

• Europe Middle East and Africa

• Europe
• Middle East and Africa

• Asia Pacific